Over 5 million Dogecoin addresses are profiting as the price of DOGE soars and is currently targeting $0.50. Most Dogecoin wallets are making profits for the first time in a while as the entire crypto market looks for a bullish recovery after a long period of stagnation.

According to IntoTheBlock data, 5.21 million addresses were profitable. These wallets represent 82.66% of the total addresses in the Dogecoin ecosystem. IntoTheBlock suggests that the optimal price for this profit level is between $0.143227 and $0.150461.

Despite over 800,000 wallets currently not making profits, analysis of the current price shows that these addresses have the potential to return to profits if DOGE returns to the $0.183729 to $0.671001 price range. It became clear. Wallets that are currently missing out on profits are only losing money because they refuse to sell their holdings. However, within this range, the wallet’s break-even point will be minimal.

Also read: How high can Dogecoin (DOGE) go this week?

Dogecoin is finally emerging from its recent slump, rising 11% in the past seven days after a deficit in April and currently $0.156. DOGE’s market capitalization was $23,035,811,127, which decreased slightly in 24 hours, but DOGE maintains the 8th place among the highest cryptocurrency market capitalizations.

The biggest question surrounding Dogecoin is not whether it is currently rebounding. Rather, holders are interested in how long DOGE can sustain this current momentum. Dogecoin community expectations are high as usual and we are optimistic that DOGE will regain his $0.5 level in the short term.